UCO Bank Quarterly Results: Financial Highlights of Q3 FY 2024-25

Lucknow. UCO Bank showcased strong performance in its financial results for the third quarter of FY 2024-25. The total business grew by 12.28% to ₹4,88,911 crore, with gross advances increasing by 16.44% to ₹2,08,655 crore and total deposits rising by 9.36% to ₹2,80,256 crore.

Net profit surged by 27.04% to ₹639 crore, while operating profit grew by 41.73% to ₹1,586 crore. The retail, agriculture, and MSME sectors recorded a combined growth of 22.01%. Retail advances grew by 31.01% to ₹50,055 crore, agricultural advances by 20.04% to ₹28,033 crore, and MSME advances by 12.75% to ₹36,262 crore.

Gross NPAs improved, reducing to 2.91%, while net NPAs dropped to 0.63%. The capital adequacy ratio stood at 16.25%, with a Tier-1 ratio of 14.17%. The bank's per-employee business increased to ₹22.98 crore.

UCO Bank expanded its network with 3,263 domestic branches and an international presence in Hong Kong and Singapore. Around 61% of its branches are located in rural and semi-urban areas, with a total of 16,397 touchpoints, including ATMs and BC points.

The financial stability and growing profitability of UCO Bank continue to strengthen its position in the banking sector.